UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-QSB

(Mark One)

X    QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934

     For quarterly period ended March 31, 2002

     TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from _____ to _______


Commission file number: 000-30065

                      Intrepid Technology & Resources, Inc.
                      -------------------------------------
                            Fka Iron Mask Mining Co.
                            ------------------------
             (exact name of registrant as specified in its charter)

                                      Idaho
                                      -----
         (State or other jurisdiction of incorporation or organization)


501 West Broadway, Suite 200, Idaho Falls, ID           82304
---------------------------------------------           -----
(Address of principal executive offices)             (Zip Code)

Registrant's telephone number, including area code:  (208) 529-5337

Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required by Section 13 or 15 (d) of the  Securities  Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements  for the past 90 days.  Yes X No ___ The  number  of  shares of the
Registrant's  Common Stock, as of March 31, 2002:  89,227,918 shares outstanding
of a total 135,000,000 authorized.


<PAGE>

<TABLE>
                               Table of Contents
<CAPTION>

<S>                                                                                     <C>
PART I - FINANCIAL INFORMATION

Item 1. Financial Statements
Balance Sheets                                                                          3
Statements of Operations                                                                4
Statements of Cash Flows                                                                5
Statement of Changes in Stockholders' Equity                                            6
Notes to Unaudited Financial Statements                                                 7-11
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations                                                                   12
Overview                                                                                12
Discussion of Financial Results                                                         13
Financial Condition                                                                     13
Liquidity                                                                               13
Capital Requirements                                                                    13

PART II - OTHER INFORMATION

Item 1. Legal Proceedings                                                               14
Item 2. Changes in Securities                                                           14
Item 3. Defaults Upon Senior Securities                                                 14
Item 4. Submission of Matters to a Vote of Security Holders                             14
Item 5. Other Information                                                               14
Item 6. Exhibits and Reports on Form 8-K                                                14
Signature Page                                                                          15

</TABLE>

<PAGE>

                     INTREPID TECHNOLOGY & RESOURCES, INC.
                            FKA IRON MASK MINING CO.
                         (A Development Stage Company)
                                 Balance Sheet
                            March 31, 2002 and 2001

<TABLE>
<CAPTION>
                                                                        March 31, 2002          March 31, 2001
                                                                        (Unaudited)             (Unaudited)
                                                                        -----------             -----------
<S>                                                                     <C>                     <C>
Assets
Current Assets
  Checking/Savings                                                      $     117,833           $         36
  Deposits and Prepaid Expenses                                         $     120,000           $          -
  Accounts Receivable                                                   $     389,061           $          -
Total Current Assets                                                    $     626,894           $         36

Property and Equipment
  Equipment/Furniture                                                   $      36,179           $      2,800
  Accumulated Depreciation                                              $        (742)          $       (400)
  Vehicles                                                              $       8,333           $          -
  Test Equipment                                                        $       5,403           $          -
Net Property and Equipment                                              $      49,173           $      2,400

Other Assets
  Goodwill (Western Technology & Management)                            $       4,320           $          -
  Goodwill (Intrepid Engineering Services, Inc.)                        $     415,938           $          -
  Goodwill (Florite)                                                    $      15,895           $          -
  Acquisition Costs                                                     $      68,931           $          -
  Mineral Rights - Lead King, Grant Hartford Lode                       $     150,000           $          -
  Mineral Rights - Other                                                $   3,723,456           $          -
Total Other Assets                                                      $   4,378,000           $          -

Total Assets                                                            $   5,054,607           $      2,436

Liabilities and Equity
Current Liabilities
  Accounts Payable                                                      $     117,826           $     47,878
  Interest Payable                                                      $           -           $      2,802
  Accounts Payable - Related Parties                                    $       2,244           $      8,856
  Notes Payable                                                         $     217,213           $          -
  Garnet Payable                                                        $     150,000           $          -
  Notes Payable - Due within one year - related parties                 $      75,825           $     10,344
  Other Current Liabilities                                             $      73,989           $          -
Total Current Liabilities                                               $     637,097           $     69,880

Long Term Liabilities
  Notes Payable - Due within one year - related parties                 $     184,000           $      2,405
  Intrepid Deferred Compensation                                        $     172,134           $          -
Total Long Term Liabilities                                             $     356,134           $      2,405

Total Liabilities                                                       $     993,231           $     72,285

Equity
  Common Stock, par value $0.005, authorized 100,000,000
    shares issued and outstanding 56,626,191 vs. 22,959,816             $   1,139,920           $    837,091
  Shareholders loans for Stock Purchase                                 $     (36,900)          $
  Additional Paid in Capital                                            $  11,400,421           $    215,936
  Deficit accumulated during Development Stage                          $                       $ (1,122,876)
  Retained Earnings                                                     $   8,142,607           $          -
  Rounding                                                              $           2           $
Total Equity                                                            $   4,060,836           $    (69,849)

Total Liabilities and Equity                                            $   5,054,067           $      2,436

</TABLE>

                  See Attached Notes to Financial Statements.

<PAGE>


                     INTREPID TECHNOLOGY & RESOURCES, INC.
                            FKA IRON MASK MINING CO.
                         (A Development Stage Company)
                               Statement of Income
          For the three and nine months ended March 31, 2002 and 2001

<TABLE>
Consolidated Income Statement
<CAPTION>

                                      Iron Mask    Intrepid      Qtr Ended    Year to      Year to Date  Inception    Inception to
                                      Qtr Ended    3/25/02 thru  3/31/02      date as of   3/31/02       Date as of   3/31/02
                                      3/31/02      3/31/02       (Unaudited)  12/31/01     (Unaudited)   12/31/01     (Unaudited)
                                      -------      -------       -----------  --------     -----------   --------     -----------
<S>                                   <C>          <C>           <C>          <C>          <C>           <C>          <C>
INCOME
  Interest Income                     $         -  $        10   $        10  $         2  $         12  $    83,931  $     83,941
  Gain (loss) on Sale of Assets       $         -  $         -   $         -  $         -  $          -  $   (29,551) $    (29,551)
  All other Income                    $         -  $         -   $         -  $         -  $          -  $    39,645  $     39,645
TOTAL INCOME                          $         -  $        10   $        10  $         2  $         12  $    94,035  $     94,035

EXPENSES
  Payroll                             $         -  $    38,803   $    38,803  $         -  $     38,803  $         -  $          -
  Professional Fees                   $    35,230  $         -   $    35,230  $    39,959  $     75,189  $   175,387  $    210,617
  Payroll Taxes and Insurance         $       270  $     3,357   $     3,627  $         -  $      3,627  $    50,788  $     93,218
  Interest & Bank Fees                $        14  $         -   $        14  $     3,103  $      3,117  $    29,129  $     29,143
  Taxes & Licenses                    $         -  $         -   $         -  $         -  $          -  $     7,873  $      7,873
  Geology Expense                     $    37,202  $         -   $    37,202  $         -  $     37,202  $         -  $     37,202
  Other                               $            $    14,321   $    14,321  $         -  $     14,321  $    16,245  $     30,566
  Consulting                          $   620,914  $         -   $   620,914  $         -  $    320,914  $            $    620,914
  Assessments                         $         -  $         -   $         -  $     8,000  $      8,000  $    30,000  $     30,000
  Write Down of Goodwill              $ 5,910,650  $         -   $ 5,910,650  $         -  $  5,910,650  $    31,000  $     31,000
  Other Operating Expenses            $    23,537  $         -   $    23,537  $   281,802  $    305,339  $   883,396  $    906,933
  Depreciation Expense                $         -  $         -   $         -  $       343  $        343  $       743  $        743
  Leases Surface Rights               $     2,239  $         -   $     2,239  $         -  $      2,239  $         -  $      2,239
TOTAL EXPENSES                        $ 6,630,055  $    56,481   $ 6,686,536  $   333,207  $  7,019,744  $ 1,224,561  $  2,000,447

NET LOSS                              $(6,630,055) $   (56,471)  $(6,686,536) $  (333,205) $ (7,019,744) $(1,130,536) $ (1,906,412)

Non Operating  Revenues (Expenses)
Acquisition of Yellow Pine Resources Cost                                                                             $   (341,796)

Accumulated Deficit - Start of Year                              $(1,456,081)              $ (1,456,081)              $ (1,456,081)
Accumulated Deficit - End of Year                                $(2,231,957)              $ (2,565,162)              $ (3,704,289)
Earnings per share                                               $   (0.0387)              $    (0.0445)              $    (0.0643)

</TABLE>

<TABLE>
Consolidated Income Statement (Continued)
<CAPTION>

                                         (unaudited)            (unaudited)             (unaudited)
                                         Qtr Ended              Year to date            Inception to
                                         3/31/01                3/31/02                 Date 3/31/31
                                         -------                -------                 ------------
<S>                                      <C>                    <C>                     <C>
INCOME
  Interest Income                        $         2            $           23          $       83,905
  Gain (loss) on Sale of Assets          $         -            $            -          $      (29,551)
  All other Income                       $         -            $            -          $       39,645
TOTAL INCOME                             $         2            $           23          $       93,999

EXPENSES
  Payroll                                $         -            $            -          $            -
  Professional Fees                      $    10,092            $       21,573          $      105,397
  Payroll Taxes and Insurance            $         -            $          966          $       49,822
  Interest & Bank Fees                   $     1,079            $        2,311          $       23,070
  Taxes & Licenses                       $         -            $           30          $        7,843
  Geology Expense                        $         -            $            -          $            -
  Other                                  $     6,032            $       16,245          $      580,976
  Consulting                             $         -            $            -          $            -
  Assessments                            $     2,000            $       22,000          $       22,000
  Write Down of Goodwill                 $         -            $            -          $       31,000
  Other Operating Expenses               $         -            $            -          $            -
  Depreciation Expense                   $       100            $          100          $          100
  Leases Surface Rights                  $         -            $            -          $            -
TOTAL EXPENSES                           $    19,303            $       63,225          $      820,208

NET LOSS                                 $   (19,301)           $      (63,202)         $     (726,209)

Non Operating  Revenues (Expenses)
Acquisition of Yellow Pine Resources Cost                                               $     (341,796)

Accumulated Deficit - Start of Year      $(1,089,800)           $   (1,045,899)         $           N/A
Accumulated Deficit - End of Year        $(1,109,101)           $   (1,109,101)         $           N/A
Earnings per share                       $   (0.0008)           $      (0.0028)         $           N/A

</TABLE>

<PAGE>

                     INTREPID TECHNOLOGY & RESOURCES, INC.
                            FKA IRON MASK MINING CO.
                         (A Development Stage Company)
              Statement of Cash Flows for Period 1/1/02 to 3/31/02

<TABLE>
<CAPTION>

                                                        (Unaudited)          (Unaudited)        (Unaudited)         (Unaudited)
                                                        Three Months         Nine Months        Three Months        Nine Months
                                                        Ended                Ended              Ended               Ended
                                                        3/31/02              3/31/02            3/31/01             3/31/02
                                                        -------              -------            -------             -------
<S>                                                     <C>                  <C>                <C>                 <C>
Cash Flow from Operating

Net Income                                              $    -719,405        $  -7,019,732      $      -19,301      $      -63,202
Adjustments to reconcile to Cash provide by
  operations activities                                 $                    $                  $                   $
Noncash costs for Services                              $     654,398        $   1,404,040      $                   $
Write Down                                              $                    $   5,910,650      $                   $
Depreciation Expense                                    $           0        $         343      $          100      $          100
Rounding Adjustment                                     $                    $           1      $                   $            1

Increase (Decrease) in accounts receivable              $                    $    -389,061      $                   $
Increase (Decrease in Prepaid Ins.)                     $                    $                  $                   $          750
Increase (Decrease in Payables)                         $                    $      67,146      $       15,851      $       38,120
Increase (Decrease in payables to
  related parties)                                      $                    $      -6,613      $         -413      $        4,618

Net Cash (used) Provide by Operating Activities         $     -65,007        $     -33,226      $       -3,763      $      -19,613

Cash Flow from Investing Activities
Acquisition Cost                                        $                    $     -42,161      $                   $
Purchase of Property/Equipment                          $      -1,886        $      -1,886      $       -2,800      $       -2,800

Net Cash (Used)
provide by Investing Activities                         $      -1,886        $     -44,047      $       -2,800      $       -2,800

Cash Flow from Financing Activities
Common Stock Proceeds - Merger                          $     181,390        $     118,190      $        6,725      $        6,725
Common Stock Proceeds - Investors                       $                    $      73,200      $                   $
Loan Proceeds related parties                           $      13,420        $      13,420      $                   $       12,748
Loan Repayments related parties                         $       9,740        $      -9,740      $                   $

Net Cash (Used) provided by Financing Activities        $     185,070        $     195,070      $        6,725      $       19,473

Net Increase (Decrease) in Cash                         $     118,117        $     117,797      $          162      $       -2,940

Cash Start Period                                       $          96        $          36      $          244      $        3,346

Cash End of Period                                      $     118,273        $     117,833      $          406      $          406

Interest Income Taxes

Non Cash Information                                    $                    $     150,000      $                   $
Garrent Payable issued for Mineral Rights               $                    $   3,723,456      $                   $
Common Stock issued for Mineral Rights                  $                    $     303,722      $                   $
Common Stock issued for Services, Prepaid Assets
  and Debt Repayment                                    $                    $                  $                   $
Intrepid Assets above Cash Received                     $                    $     889,548      $                   $
Western Assets above Cash Received                      $                    $   5,242,262      $                   $

</TABLE>

                See notes to consolidated financial statements.

<PAGE>

                     INTREPID TECHNOLOGY & RESOURCES, INC.
                            FKA IRON MASK MINING CO.
                         (A Development Stage Company)
                Statement of Changes in Stockholders' Equity for
                  the three and six months ended and inception
                        through March 31, 2002 and 2001
<TABLE>
<CAPTION>

                                                                        Year to         Inception       Inception
                                                        Qtr Ended       Date            to              to
                                                        3/31/02         3/31/02         3/31/02         3/31/01
                                                        -------         -------         -------         -------
<S>                                                     <C>             <C>             <C>             <C>
Common Stock
Start of Period                                            985,140         837,091
Issued Shares                                              129,600         129,600         966,691
Issued for Services 3,956,053                               24,780          24,780          24,780
Issued for Services 750,000 Shares                                           3,750           3,750           6,725
Issued for Services 300,000 Shares                                           1,500           1,500
Issuable for Mineral Rights -                                              104,336         104,336
  20,867,280 Shares
Issued for existing debt and accounts
  payable 7,692,600 Shares                                                  38,463          38,463

End of Period                                            1,139,520       1,139,520       1,139,520         837,091

Additional Paid In Capital
Start of Period                                          4,277,604         215,936                         215,936
Issued Shares                                            6,183,600       6,193,600       6,399,536
Issued for Services 3,956,053 Shares                       629,617         629,617         629,617
Issued for Services 750,000 Shares                               -          63,750          63,750
Issued for Services 300,000 Shares                                          22,223          22,223
Issuable for Mineral Rights -
  20,867,280 Shares                                                      3,619,120       3,619,120
Issued for existing debt and accounts
  payable 7,692,600                                                        356,575         356,575

End of Period                                           11,090,821      11,090,821      11,090,821         215,936

Accumulated Deficit
Start of Period                                         (1,456,081)     (1,122,876)                     (1,079,260)
Current Period Profit (Loss)                              (719,405)     (1,052,610)     (2,175,486)        (10,540)
Write Down of Goodwill                                  (4,250,000)     (4,250,000)     (4,250,000)
End of Period                                           (6,425,486)     (6,425,486)     (6,425,486)     (1,089,800
Total Stockholders Equity                                5,804,855       5,804,855       5,804,855         (43,498)

</TABLE>

                See notes to consolidated financial statements.

<PAGE>

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The  accompanying  unaudited  financial  statements  have been  prepared  by the
Company  pursuant to the rules and  regulations  of the  Securities and Exchange
Commission.  Certain information and footnote  disclosures  normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles   have  been  condensed  or  omitted   pursuant  to  such  rules  and
regulations.  In the opinion of  management,  all  adjustments  and  disclosures
necessary  to a fair  presentation  of  these  financial  statements  have  been
included.  These  financial  statements  should be read in conjunction  with the
financial  statements  and notes thereto  included in the Company's  2001 Annual
Report on Form  10-KSB  for the year  ended  June 30,  2001,  as filed  with the
Securities  and  Exchange  Commission.  The  consolidated  financial  statements
include  the  accounts of the Company  and its wholly  owned  subsidiaries.  All
significant  inter-company  transactions  and balances  have been  eliminated in
consolidation.

The company was a  development  stage  company until March 25, 2002. As such the
following  accounting policies have been followed.  Going forward the company is
an operating company.

Development  Activities.  The  primary  business  purpose  of the  Company is to
provide  engineering  service;  develop  ethanol  production  and  marketing and
development of mining  properties.  The  realization of profits are dependent on
successful  bidding and completion of  engineering  contracts,  construction  of
ethanol  facilities,  production and marketing of ethanol and the recoverability
of the minerals of the Company's properties.

Cash and Cash  Equivalents.  For the purpose of the statement of cash flows, the
Company  considers  all highly  liquid debt  instruments  with maturity of three
months or less to be cash equivalents.

Property and Equipment.  Depreciation is provided for on the accelerated  method
of accounting over 5 to 7 years.

Notes Payable. The Company had various notes payable to individuals.  During the
quarter ended  December 31, 2001,  the Company  exchanged  stock for these notes
payable.  The Company also  incurred  additional  expenses and paid a portion of
these and related party accounts payable with the issuance of stock.

Income  Taxes.  The  Company  files  its  corporate  income  tax  returns  as  a
development stage company.  Accordingly,  all income and expense items are being
capitalized as development costs.

Estimates.  The preparation of financial statements in conformity with generally
accepted  accounting  principles  requires  management  to  make  estimates  and
assumptions  that  affect the  reported  amounts of assets and  liabilities  and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements  and the  reported  amounts  of  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

<PAGE>

NOTE 2: ACQUISITION

On  March  25,  2002,  the  Company,   acquired  Intrepid  Engineering  Services
(Intrepid) and Western Technology and Management, Inc. (Western),  pursuant to a
Stock Agreement (the  "Agreement").  The acquisition was accounted for under the
purchase method.

The Company issued 3,993,577  shares for the outstanding  shares of Intrepid and
21,006,424 shares for the outstanding shares of Western.

Pursuant to the Agreement, the Company acquired all of the authorized and issued
stock of Intrepid and Western,  thereby obtaining  ownership of all Intrepid and
Western  assets  and  liabilities.  The  principal  assets  are  cash,  accounts
receivable,  prepaid assets and deposits and goodwill.  The Company also assumed
the  liabilities   including  accounts  payable,   notes  payable  and  deferred
compensation.

The purchase  price of 6,250,000  for Intrepid and Western was  allocated to the
following  assets:  $118,089  cash,  $439,151 in accounts  receivable  and $0 of
prepaid  assets for a subtotal  of  $557,240  of current  assets.  Other  assets
consisted of gross property plan and equipment of $45,229 of  shareholder  loans
and $6,346,802 of goodwill.

Unaudited pro forma statement of operations data
------------------------------------------------

The  following  table  compares,  for the three  months ended March 31, 2002 and
2001,  reported  consolidated  results  of  operations  including  Intrepid  and
Western's  actual  operations  from the  acquisition  date of March 25, 2002, to
unaudited  pro forma  consolidated  data as if the  acquisition  occurred at the
beginning of the year:

<TABLE>
<CAPTION>
                                                   2002                2001
                                                        Pro                 Pro
                                              Reported  Forma     Reported  Forma
                                              --------  ------    --------  -----
<S>                                           <C>       <C>       <C>       <C>
Revenue ($000s)                               $   527   $   527   $   431   $   431
Net income                                    $  (719)  $  (719)       25        25
                                              -------   -------   -------   -------
Net income available to common shareholders   $  (719)  $  (719)  $    25   $    25
                                              =======   =======   =======   =======
Basic earnings per share                      $ (.008)  $ (.008)  $ .0003   $ .0003
                                              -------   -------   -------   -------
Diluted earnings per share                    $ (.008)  $ (.008)  $ .0003   $ .0003
                                              -------   -------   -------   -------
</TABLE>

<PAGE>

The Company closed the  acquisition  of Western to bring general  scientific and
ethanol  production/marketing  expertise to the Company. The Company expects the
scientific  expertise  to allow the Company to  competitively  bid for  research
contracts. The ethanol expertise provides the Company with the ability to pursue
the construction and marketing of ethanol.

The Company  closed the  acquisition of Intrepid to bring  engineering  services
expertise  and  revenue to the  Company.  This  acquisition  provides  operating
revenues and engineering  expertise to support the Company's  development of the
long term assets of the Company.

NOTE 3: Personal Guarantees:

Intrepid has a revolving  line of credit from U.S.  Bank N.A. for $200,000  with
interest  at  prime  plus 2%  secured  by all  business  assets.  The  following
employees of the company have given unlimited personal guarantees of the line of
credit:  C.  Bentley  Roth  (Chief  Operating  Officer),  Donald  Kenoyer  (Vice
President),  Jacob Dustin (Vice  President),  Liem Nyguen (Vice  President),  S.
Scott  Francis,  Gary  Mecham,  and  David  Roth.  The line of credit is in good
standing.  The  amount  of the  line of  credit  owed as of March  31,  2002 was
$200,000.

Note 4:  Shareholder Notes:

The following  shareholders  who are also officers,  employees or directors have
personally lent money to the company.  The notes are unsecured  demand notes. It
is not  contemplated  by the  company  that the notes will be called in the next
year. The following are shareholder  creditors to the company:  C. Bentley Roth,
Donald Kenoyer,  Jacob Dustin, Robert Delaney and Donald Delaney. The loans from
Mr. Roth,  Mr.  Kenoyer and Mr. Dustin  accrue  interest at an annual rate of 10
percent payable on demand.

Note 5: Shareholder loans:

Certain employees of Intrepid and now current employees of the company were lent
funds to purchase shares of Intrepid.  They are listed below. Repayment of these
loans will come from the payment of deferred  compensation that are carried as a
portion of long term liability Deferred  Compensation of the company.  It is not
anticipated  that the  deferred  compensation  will be paid in the next year and
therefore the loans will not be paid in the next year.

Shareholder loan borrowers:  Gary Mecham, David Roth, Scott Francis, Don Dustin,
Shaun Dustin and Lynn Higgins.

<PAGE>

NOTE 6: RELATED PARTY INFORMATION

The Company  conducted  business with various  shareholders  as consultants  who
incurred  expenses on behalf of the  company.  It has also  borrowed  funds from
certain  shareholders  and  lent  funds  to  certain  shareholders.  It has also
utilized the personal guarantee of certain shareholders/officers to support bank
financing.  See  Notes 3, 4, 5 and 7 for more  information.  Oremont  Mining,  a
related  party  assisted in the  purchase of other  mineral  rights and received
4,500,000 shares of the Company common stock,  Oremont originally had the option
to purchase these mineral rights and  transferred  these options to the Company.
Oremont now is dormant.

NOTE 7: CONSULTING CONTRACTS

The company entered into consulting  agreements with Robert Delaney  (Director),
Donald Delaney (Director),  William W. Wells, Robert Evans and Aaron Charlton on
January 1, 2002.  They are to provide  consulting  services  to  management  for
development of the company's  natural  resources.  The contracts expire December
31, 2002.

Compensation is to be paid in S-8 stock in the following manner:

<TABLE>
<CAPTION>
Name                                                    Amount of S-8 free trading stock
----                                                    --------------------------------
<S>                                                     <C>
Robert Delaney                                          100,000 shares per month
Donald Delaney                                          100,000 shares per month
William W. Wells                                        50,000 shares per month
Robert Evans                                            50,000 shares per month
Aaron Charlton                                          100,000 shares per month

</TABLE>

The company entered into a consulting agreement with David Maynard on the 1st of
February 2002.  The  consulting  services will be as requested by management and
also services  provided as the office  manager of the Missoula  Montana  office.
Compensation  of  $4,000/month  payable in cash or S-8 free trading  stock.  The
stock may be paid in lieu of cash at the rate of 85% of the closing price of the
company's publicly traded stock on the last business day of the preceding month.
The contract runs for 5 months and may be terminated with 30 days notice.

NOTE 8: CONSULTING AGREEMENT WITH CORPORATE ALLIANCE NETWORK

Effective  December 27,  2001,  the Company  entered into a consulting  services
agreement with Corporate  Alliance  Network.  Corporate  Alliance  Network is to
provide various services,  and the Company is to compensate  Corporate  Alliance
Network with common stock. The total consideration is 2,500,000 shares of common
stock;  the  initial  payment  was  2,000,000  shares  for the first 4 months of
services.  The  contract  was signed on January  1st 2002 and  expires  155 days
later. The contract payment amount was amended to 2,000,000 of S-8 stock vesting
immediately upon execution of the contract.

<PAGE>

NOTE 9: MINERAL RIGHTS/GARNET PAYABLE

The Company has entered into an agreement for the purchase of the Lead King Lode
Mining  claim and the Henry Grant and James  Hartford  Lode Mining claim for the
price  of $  150,000  to be paid  within  30 days of the  date of the  agreement
(August 23,  2001).  The agreement has been modified to an option to purchase on
March 18, 2002. The option  exercise date is June 30, 2002 for $150,000  payable
by August 25, 2002.

NOTE 10: CONTINGENT LIABILITY/OTHER MINERAL RIGHTS

The Company has entered  into an  agreement  for the  purchase of other  various
mineral  rights  for the  price of $  3,273,456  to be paid by the  issuance  of
16,367,280 shares of common stock of the Company,  with a deemed value of $ 0.20
per share,  subject to adjustment.  Per the agreement  "If,  within one (1) year
after the execution of this  Agreement  the publicly  traded shares of Iron Mask
are not trading at $ 0.20 or more per share,  the high price for the public sale
of such shares on the anniversary  date of the Agreement shall become the deemed
value per share, and additional  shares of the common stock of Iron Mask will be
issued to the end that the total number of shares on the date of this Agreement,
shall equal $ 3,273,456.

NOTE 11 SUBSEQUENT EVENTS:

A  shareholders  meeting was held on April 12, 2002.  The  following  items were
voted on and passed:

The shareholders  approved the  acquisitions of Intrepid  Technology & Resources
and Western  Technology and Management.  The acquisitions are recorded under the
Purchase Method.

The company's name was changed to Intrepid Technology and Resources, Inc.

The authorized  number common stock shares were  increased  from  100,000,000 to
135,000,000.

The shareholders  elected Dennis Keiser,  C. Bentley Roth, Jacob Dustin,  Robert
Delaney and Donald Delaney to the board of directors.

The  shareholders  ratified  previous  actions by the board of directors for the
acquisition.

The  shareholders   voted  to  accept  Ruland  Williams  CPA  as  the  company's
accountant.

<PAGE>

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

The Company is an operating company engaged in providing  engineering  services,
construction and marketing of ethanol and the development of mining  properties.
The Company filed Form 10-SB General Form for  Registration  of Securities  with
the  Securities  and  Exchange  Commission  on March  22,  2000.  The  Company's
registration  became  effective on April 26, 2000.  Iron Mask Mining Company and
subsidiaries'  stock is listed on the electronic  bulletin board. Public trading
began June 2001.  The  Company's  fiscal  year end is June 30th.  The  Company's
trading symbol is IMKG.

OVERVIEW

The Company was formed on May 16,  1957 and  engaged in mining  activities  from
1957 to 1991.  From 1991 to February 1999 the Company was inactive.  On March 5,
1999, the Company acquired 100% of the stock of Yellow Pine Resources,  Inc., in
exchange for 6,000,000  shares of the Company's common stock. On May 10th, 2000,
the Company  entered into an  agreement  with  American  Diatomite,  L.L.C.,  to
develop,  mine and retain  profits from 42 unpatented  mining claims in exchange
for 6,200,000 shares of Iron Mask Mining Company common stock. The Company has a
five-year  option to purchase the 42 mining claims for $ 3,000,000 from American
Diatomite,  L.L.C. The $ 3,000,000 purchase option price is exclusive of capital
gains taxes incurred by American Diatomite,  L.L.C. In addition,  Iron Mask will
pay a $10/ton  royalty  payment for  diatomaceous  earth sold and  shipped  from
American  Diatomite,  L.L.C.  Iron Mask acquired mineral rights in Montana for $
3,877,700 by issuing 20,867,280 shares of its common stock.

In  December,  2001,  Iron  Mask  issued  stock  for  services  rendered  to the
corporation,  repayment of loans, and for prepaid consulting services related to
marketing and advertising of the company's business.

On January  18, 2002 the  company  signed a letter of intent to acquire  100% of
Intrepid Engineering Services, Inc. and Western Technology and Management, Inc.,
both  privately  held Idaho  corporations,  in exchange for  25,000,001  million
shares of restricted Iron Mask stock. Intrepid Engineering  Services,  Inc. is a
project/task-oriented firm with a highly experienced,  professionally registered
staff providing expertise across a broad range of engineering disciplines and in
all  phases of project  planning,  management  and  execution.  Intrepid  has 26
full-time  employees  and access to  internationally  recognized  experts in the
fields of  Physics,  Radiology,  Biology,  Chemistry  and  Engineering.  Western
Technology and Management,  Inc. is compromised of several specialized companies
whose common goal is developing Idaho  resources.  Under the terms of the letter
of intent,  Dr. Dennis Keiser was named President of Iron Mask as of the date of
closing.

The Company  undertook the  acquisition  of Intrepid  Technology & Resources and
Western  Technology  and  Management  as the  best  method  to add  value to the
Company.  The acquisitions begins an operating  engineering services company and
management  expertise to pursue ethanol production and marketing and development
of the Company's mineral reserves.

<PAGE>

Revenues
--------

The Company's revenues were $.10 for the quarter ended March 31, 2002,  compared
to total revenues of $.02 from interest  income for the same period in the prior
year.

Expenses
--------

The  Company's  expenses  were  $686,536  for the  quarter  ended March 31, 2002
compared to $19,303 for the same period the prior year.

Discussion of Financial Results:
--------------------------------

Revenues of the merged  company  contain only 6 days (March 25 2002 to March 31,
2002) of Intrepid and Western income and expenses.

Income  generated  by the  company  in the  period  was  interest  income of $10
compared to interest income of $2 in the prior year.

Expenses for the quarter totaled $6,686,536 centered in $5,910,650 write down of
good will for the acquisitions of Intrepid and Western.  Consulting fees paid of
$620,914 which were paid in S-8 stock.  Other material  expenses include payroll
of $38,803,  payroll  taxes of $3,627.  Geology  expenses of $37,201 to Intrepid
Engineering  Services  Inc.  Legal fees of $35,230,  other  expenses of $14,335,
surface lease rights $2,239, other operating expenses $23,537.

FINANCIAL CONDITION

Liquidity
---------

Cash is  $117,833  for the  quarter.  Prepaid  consulting  increased  $ 120,000.
Accounts  receivable  are  $389,061.  Total current  assets are $626,894.  Total
current liabilities total $637,097. Working capital total ($10,203). The Company
expects that cash flow from operations will be a sufficient  source of liquidity
to fund operations.  The Company is currently evaluating financing options to be
put in place as an additional source of liquidity if needed.

Capital Requirements
--------------------

The Company's  stock  registration  and listing  allows the Company to raise the
capital  needed  to  pursue  its  long-term  goals  of  developing  its  ethanol
production/marketing  efforts, its engineering  services business,  its gold and
diatomite mining  operations and other  opportunities  identified by management.
The Company is currently negotiating for long-term financing.

<PAGE>

                          PART II -- OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 2. CHANGES IN SECURITIES
None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

The Company's name was changed to Intrepid Technology and Resources, Inc.

The authorized  number of common stock shares were increased from 100,000,000 to
135,000,000.

The shareholders  elected Dennis Keiser,  C. Bentley Roth, Jacob Dustin,  Robert
Delaney and Donald Delaney to the board of directors.

The  shareholders  ratified  previous  actions by the board of directors for the
acquisition. The acquisition was accounted for under the Purchase Method.

The  shareholders   voted  to  accept  Ruland  Williams  CPA  as  the  Company's
accountant.

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

On  April  8,  2002,  the  Company  filed a Form  8-K  reporting  the  following
information:

     On March 1, 2002, the Company entered into merger  agreements with Intrepid
Engineering  Services,  Inc.,  an Idaho  corporation  ("Intrepid")  and  Western
Technology and Management,  Inc., an Idaho corporation ("Western"). The Articles
of Merger  were  filed  March 25,  2002  with the  Secretary  of State of Idaho.
Intrepid and Western shall be surviving corporations,  wholly-owned subsidiaries
of Iron Mask.

<PAGE>

     As  consideration  for the  Intrepid  merger,  all  outstanding  shares  of
Intrepid stock,  and other rights to acquire  Intrepid stock,  will be exchanged
for 3,993,575 shares of Iron Mask common stock. This will result in the Intrepid
shareholders having 5.058% of the outstanding shares of Iron Mask.

     As consideration for the Western merger,  all outstanding shares of Western
stock,  and  other  rights to  acquire  Western  stock,  will be  exchanged  for
21,006,425  shares of Iron Mask  common  stock.  This will result in the Western
shareholders having 26.603% of the outstanding shares of Iron Mask.

     The shares will be issued from the authorized  but unissued  shares of Iron
Mask.  Further  details of the  mergers are  detailed  in the merger  agreements
attached as exhibits.


                                 SIGNATURE PAGE

Pursuant to the  requirements of section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the  undersigned,  thereunto duly  authorized.

                                          INTREPID  TECHNOLOGY & RESOURCES, INC.

                                                            /s/ Dennis D. Keiser
                                                            --------------------
                                                     Dennis D. Keiser, President

                                                             Date:  May 20, 2002